Episode 601 | Bootstrapping B2B vs. B2C

Startups For the Rest of Us

Rob Walling

Management, Entrepreneurship, Business, Marketing

4.8 • 792 Ratings

🗓️ 3 May 2022

⏱️ 39 minutes

🔗️ Recording | iTunes | RSS

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Summary

In episode 601, Rob Walling chats with Nick Fogle of ChurnKey. Nick previously cofounded Wavve which was acquired in early 2021. In this conversation, they chat about how the idea for Churnkey came from his other business, decision to sell Wavve, and some of the key differences between bootstrapping a B2C vs a B2B SaaS. Topics we cover: [2:11] Tips for reducing churn [3:26] Asking for feedback at the point of cancellation via feedback surveys [8:09] When he knew it was the right time to double down on ChurnKey [9:06] A piece of advice for bootstrappers looking for SaaS business ideas [14:44] The process Nick and his cofounder used to sell Wavve for a life-changing exit. [22:13] The potential pitfalls of off-market deals [26:56] His initial reaction after selling Wavve [29:04] The key differences between selling B2B and B2C [30:36] Why Nick made the difference to hire a head of sales for ChurnKey [32:14] The mindset shifts he had to unlock around shifting from low touch to high touch sales [33:43] Why he decided to join the current batch of TinySeed Links from the Show: Nick Fogle (@nickfogle) I Twitter Churnkey Wavve TinySeed If you have questions about starting or scaling a software business that you’d like for us to cover, please submit your question for an upcoming episode. We’d love to hear from you. Subscribe & Review: iTunes | Spotify | Stitcher

Transcript

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0:00.0	Welcome back. It's startups for the rest of us. I'm Rob Walling, and this week I talk with Nick Vogel of Churnkey about a number of things, but one interesting point we touch on in this conversation is about the difference between bootstrapping B2C and bootstrapping a B2B company. It's something we've talked quite a bit about on this show, and I think you'll enjoy that part of our conversation
0:21.4	and hopefully the entire conversation that I have with Nick today. But before we dive into that,
0:26.4	I want to let you know microcomf remote is happening today when this episode comes out. It's
0:30.0	happening today, tomorrow, and the day after. Tuesday, Wednesday, Thursday, May 3rd through 5th.
0:34.7	Tickets are still available. We are talking all things money,
0:38.1	so we're covering sales and personal finance and pricing and alternative sources of funding.
0:45.2	And we do it for 90 minutes over three days to make it easy on your schedule. We also have this
0:49.8	amazing new platform that is like, it's like a first person walkthrough environment.
0:54.9	You just got to go. You got to go to microcomfremote.com. And there is a video you can play
0:58.7	there to check it out because if you haven't seen a remote event and I bet you have not
1:02.6	seen one on a platform like this, you should really check this out because producer Xander
1:05.8	is pulling out all the stops on this one. And I'm super excited to be hosting that this week.
1:12.8	So if you haven't got your ticket already,
1:14.5	can head to microcomfremote.com.
1:16.4	If you just want to opt instead to just get the videos,
1:19.6	we do have a video-only priced for that as well.
1:21.3	So microcomfremote.com, if you're interested,
1:23.5	and with that, let's dive into my conversation with Nick Fogel of Jernkey.
1:33.1	Thank you. with Nick Fogle of Jernkey. Nick, thanks so much for joining me on the show today.
1:35.6	Thanks for having me.
1:36.4	It's kind of a dream.
1:37.0	I've been a long time listener,
	...

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